NAS receives non-compliance notice from NASDAQ

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North American Scientific (NAS) has received a notice from NASDAQ stating that for the last 30 consecutive business days, the bid price of its common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4450(a)(5).

In accordance with Marketplace Rule, the Chatsworth, Calif.-based NAS has 180 calendar days, or until April 2, 2008, to regain compliance.

If the bid price of the company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NAS understands that NASDAQ’s staff will provide written notification that its common stock will be de-listed.

During that time, NAS may appeal the decision to de-list its common stock to a NASDAQ listing qualifications panel.